MIRA INFORM REPORT

Report Date :

20.09.2011

IDENTIFICATION DETAILS

Name :	OGENE SYSTEMS INDIA PRIVATE LIMITED
Registered Office :	11-6-56, S.No.257 and 258/1, Moosapet Kuktaplly, R.R. District, Hyderabad – 500 037, Andhra Pradesh
Country :	India
Financials (as on) :	31.03.2010
Date of Incorporation :	23.09.2004
Com. Reg. No.:	01-044250
Capital Investment / Paid-up Capital :	Rs.173.900 millions
CIN No.: [Company Identification No.]	U72200AP2004PTC044250
TAN No.: [Tax Deduction & Collection Account No.]	HYDO00467F
PAN No.: [Permanent Account No.]	AAACO7056R
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer and Service Provider of Brain Nervous System Drugs, Industrial Chemicals, etc.
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

B (32)

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Maximum Credit Limit :	USD 1505000
Status :	Moderate
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is an established company having moderate track. The company has improved its performance in the year 2009-10. The company has successful in wiping off the accumulated losses of previous years. Trade relations are reported as fair. Business is active. Payments are reported to be slow but correct. The company can be considered for business dealings with some caution.

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

ECGC Country Risk Classification List – April 1, 2010

Country Name	Previous Rating (31.12.2009)	Current Rating (01.04.2010)
India	A1	A1

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

LOCATIONS

Registered Office and CRO, Radiolabel Facility :	11-6-56, S.No.257 and 258/1, Moosapet Kuktaplly, R.R. District, Hyderabad – 500 037, Andhra Pradesh, India
Tel. No.:	91-40-23774455
Fax No.:	91-40-23775566
E-Mail :	bmchoudary@gmail.com info@ogene.co.in
Website :	http://ogene.co.in
Factory :	Plot No.218 and 219, Phase II, IDA-Pashamylaram, Medak District, Andhra Pradesh, India

DIRECTORS

As on 28.05.2011

Name :

Dr. Boyapati Manoranjan Choudary

Designation :

Managing Director

Address :

Plot No.312, MLA/AP’s Colony, Road No.10C, Jubilee Hills, Hyderabad – 500 033, Andhra Pradesh, India

Date of Birth/Age :

10.08.1946

Date of Appointment :

27.04.2005

DIN No.:

00463723

Other Directorship :

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Date of cessation	Company Status	Defaulting status
1	U72200AP2004PTC044250	Ogene Systems India Private Limited	Managing director	27-04-05	27-04-05	-	Active	NO
2	L24239AP1987PLC008066	SMS Pharmaceuticals Limited	Director	29-05-05	29-05-05	-	Active	NO
3	U24239AP2004PTC043469	Aprics Labs Private Limited	Director	01-12-06	01-12-06	-	Active	YES
4	U24239AP1994PLC018324	Indian Chemphar Limited	Director	30-09-10	11-01-10	-	Active	NO
5	U74140AP2000PTC033407	Swain Finance and Trading Private Limited	Director	19-02-10	19-02-10	-	Active	YES

Name :

Mr. Peranamallur Narayanaswamy Devarajan

Designation :

Director

Address :

A-1, Ground Floor, Munjal Nagar – 2, Chembur, Mumbai – 400 089, Maharashtra, India

Date of Birth/Age :

15.02.1935

Date of Appointment :

25.06.2009

DIN No.:

00003842

Other Directorship :

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Date of cessation	Company Status	Defaulting status
1	U72900MH1994PTC083007	Tropical Technologies Private Limited	Director	16-11-94	16-11-94	-	Active	NO
2	L85195AP1984PLC004507	Dr. Reddy's Laboratories Limited	Director	30-10-00	30-10-00	20-05-08	Active	NO
3	L74210TN2000PLC045167	Shriram EPC Limited	Director	11-08-01	11-08-01	12-09-07	Active	NO
4	U29120TN2002PTC049213	Geometric Engineering Construction Private Limited	Director	09-10-02	09-10-02	10-11-07	Active	NO
5	L15421TN1960PLC004310	Kothari Sugars and Chemicals Limited	Director	24-09-03	24-09-03	27-04-09	Active	NO
6	U65993MH2006PLC162533	Essel-Centrum Holdings Limited	Director	08-07-06	08-07-06	-	Active	NO
7	L29221TN1956PLC000204	Best and Crompton Engineering Limited	Director	22-09-07	31-01-07	07-01-09	Active	NO
8	U72200TN2006PTC059964	SGT India Private Limited	Director	19-10-09	31-03-08	24-02-10	Active	NO
9	U29290MH1987PTC045499	Aarvi Encon Private Limited	Director	01-12-08	01-12-08	-	Active	NO
10	L11101TN1989PLC017347	Kothari Petrochemicals Limited.	Director	18-09-09	24-04-09	-	Active	NO
11	U72200AP2004PTC044250	Ogene Systems India Private Limited	Director	29-09-09	25-06-09	-	Active	NO
12	U24294TN1982PTC009401	Tex Biosciences Private Limited	Director	25-08-11	30-09-09	-	Active	NO
13	U24120WB2009PLC153272	Matix Fertilisers and Chemicals Limited	Director	08-11-10	16-01-10	-	Active	NO
14	U93000DL2010NPL199615	Sahyog Micro Finance Foundation	Additional director	15-04-10	15-04-10	-	Active	NO
15	U25209MH2007PTC168369	Kris Flexipacks Private Limited	Director	23-07-11	01-04-11	-	Active	NO

Name :

Mr. Kamlesh Suresh Gandhi

Designation :

Director

Address :

6, Palm Grove, 26, Pushpak Park Aundh, Pune – 411 007, Maharashtra, India

Date of Birth/Age :

16.06.1950

Date of Appointment :

04.07.2009

DIN No.:

00004969

Other Directorship :

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Date of cessation	Company Status	Defaulting status
1	U65990MH1988PTC049298	Lalbawa Investments and Trading Company Private Limited	Director	11-07-89	11-07-89	-	Active	NO
2	L18100AP1981PLC003031	Priyadarshini Spinning Mills Limited	Director	24-08-96	24-08-96	20-07-09	Active	NO
3	U67120MH1994PTC078125	Centrum Broking Private Limited (CN)	Director	24-12-04	24-12-04	20-09-07	Active	NO
4	L27201AP1991PLC012449	Bhagyanagar India Limited	Director	12-12-05	12-12-05	-	Active	NO
5	L74999MH1905PLC000223	Bombay Swadeshi Stores Limited	Director	28-09-07	30-09-06	22-06-10	Active	NO
6	U51909DL2007PLC159042	Religare Capital Markets Limited	Director	09-02-07	09-02-07	18-02-08	Active	NO
7	U65910DL1986PTC151115	Religare Securities Limited	Whole-time director	09-04-07	09-04-07	31-03-08	Active	NO
8	L85110KA1946PLC000415	Kirloskar Electric Company Limited	Director	30-08-07	25-06-07	-	Active	NO
9	L72200AP1999PLC030997	Cambridge Technology Enterprises Limited	Director	29-09-07	31-07-07	25-09-08	Active	NO
10	L33130AP1979PLC002521	NCL Industries Limited	Director	29-09-08	14-06-08	-	Active	NO
11	U40101KA1986PLC007404	Bhoruka Power Corporation Limited	Director	29-09-08	21-06-08	-	Active	NO
12	U30007GJ2003PLC041786	Sai Infosystem (India) Limited	Director	30-09-08	28-07-08	14-03-10	Active	NO
13	U72200AP2004PTC044250	Ogene Systems India Private Limited	Director	29-09-09	04-07-09	-	Active	NO
14	L74140AP1982PLC040516	Bodhtree Consulting Limited	Director	29-09-09	28-08-09	-	Active	NO
15	U28920TN1999PLC043385	Best and Crompton Engineering Projects Limited	Additional director	31-08-10	31-08-10	-	Active	NO

Name :

Dr. Jhillu Singh Yadav

Designation :

Director

Address :

A and B Quarters, Directors Bunglow, 11 CT QRTS, Hyderabad – 500 007, Andhra Pradesh, India

Date of Birth/Age :

04.08.1950

Date of Appointment :

04.07.2009

DIN No.:

02014136

Other Directorship :

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Date of cessation	Company Status	Defaulting status
1	L27109AP1968PLC001196	Alkali Metals Limited	Director	27-05-10	31-03-08	-	Active	NO
2	U72200AP2004PTC044250	Ogene Systems India Private Limited	Director	29-09-09	04-07-09	-	Active	NO

Name :

Mr. Mandava Balarama Krishnaiah

Designation :

Nominee Director

Address :

Flat No.106, Green Park Residency, B.K. Guda, S.R. Nagar, Hyderabad – 500 038, Andhra Pradesh, India

Date of Birth/Age :

04.08.1950

Date of Appointment :

08.09.2010

DIN No.:

00036506

Other Directorship :

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Date of cessation	Company Status	Defaulting status
1	L24110AP1984PLC005096	Alufluoride Limited	Director	12-01-99	12-01-99	-	Active	NO
2	U65999AP2002PTC039747	Ventureast Trustee Company Private Limited	Director	07-05-03	07-05-03	-	Active	NO
3	U24119AP1984PLC004685	Vybra Automet Limited	Nominee director	25-05-04	25-05-04	01-05-07	Active	NO
4	U27203AP1987PLC007108	Altec Corporation Limited	Nominee director	30-04-05	30-04-05	05-05-07	Active	NO
5	U32103AP1995PLC036134	Photon Energy Systems Limited	Nominee director	27-07-05	27-07-05	16-07-07	Active	NO
6	L74999AP1991PLC013391	Lanco Industries Limited	Nominee director	22-10-05	22-10-05	25-05-07	Active	NO
7	L72200AP1991PLC013264	Enso Secutrack Limited	Director	31-01-06	31-01-06	05-05-08	Active	YES
8	L24110AP1989PLC009500	Phyto Chem (India) Limited	Director	24-09-08	30-06-08	-	Active	NO
9	U18100AP1991PLC013088	Futuretech Industries Limited.	Director	30-07-08	30-07-08	29-09-08	Active	NO
10	U29130AP2006PLC050197	EBC Bearings (India) Limited	Whole-time director	30-09-10	26-12-09	-	Active	NO
11	U28920TN1999PLC043385	Best and Crompton Engineering Projects Limited	Additional director	29-03-10	29-03-10	-	Active	NO
12	U72200AP2004PTC044250	Ogene Systems India Private Limited	Nominee director	08-09-10	08-09-10	-	Active	NO
13	U51433AP2011PLC073024	BRS Enterprises and Trading Limited	Director	03-03-11	03-03-11	-	Active	NO

KEY EXECUTIVES

Name :	Arunkumar S.
Designation :	Chief Financial Officer
Name :	M. Venkateswara Rao
Designation :	Vice President-Product Development
Name :	Dr. Sarma
Designation :	Vice President – R and D

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 28.05.2011

Names of Shareholders	No. of Shares
Boyapati Manoranjan Choudary	820000
Mandalapu Sreedevi	1080000
S. Dhanalakshmi	890000
Y. Sivalinga Prasad	190000
Shankar Rao	50000
A. Achuth	100000
Swain Finance and Trading Private Limited, India	15930000

As on 28.05.2011

Equity Share Breakup	Percentage of Holding
Category
Bodies corporate	85.96
Directors or relatives of directors	10.25
Other top fifty shareholders	3.79
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer and Service Provider of Brain Nervous System Drugs, Industrial Chemicals, etc.
Products :	v API's Intermediates v Radiolabeled Compounds and Radio Pharmaceuticals v Nano Medicine and Nano Materials v Energy Chemicals v CRO v EPC

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

Punjab National Bank, Large Corporate Branch, Road No.1, Banjara Hills, Hyderabad – 500 034, Andhra Pradesh, India

Facilities :

Secured Loans	31.03.2010 Rs. In Millions	31.03.2009 Rs. In Millions
Hire Purchase Loans	0.803	0.680
Total	0.803	0.680

Unsecured Loans	31.03.2010 Rs. In Millions	31.03.2009 Rs. In Millions
Unsecured Loans	48.029	0.000
DSIR and Sales Tax Deferment	14.825	9.000
Total	62.854	9.000

Banking Relations :	--
Auditors :
Name :	Ganesh Venkat and Company Chartered Accountants
Address :	402, Ramkishen Residency, 6-3609/150, Anand Nagar, Khairatabad, Hyderabad – 500 004, Andhra Pradesh, India
Tel. No.:	91-40-23396879/ 66836879/ 66838437
Fax No.:	91-40-23318437
E-Mail :	rajavenkatg@yahoo.com
PAN No.:	ABTPG8446Q

CAPITAL STRUCTURE

As on 28.05.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
20000000	Equity Shares	Rs.10/- each	Rs.200.000 millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
18530000	Equity Shares	Rs.10/- each	Rs.185.300 millions

As on 31.03.2010

Authorised Capital :

No. of Shares	Type	Value	Amount
20000000	Equity Shares	Rs.10/- each	Rs.200.000 millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
17390000	Equity Shares	Rs.10/- each	Rs.173.900 millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2010	31.03.2009	31.03.2008
SHAREHOLDERS FUNDS
1] Share Capital		173.900	26.000	26.000
2] Share Application Money		0.000	323.654	23.438
3] Reserves & Surplus		202.349	10.538	8.260
4] (Accumulated Losses)		0.000	(2.599)	(7.802)
NETWORTH		376.249	357.593	49.896
LOAN FUNDS
1] Secured Loans		0.803	0.680	1.162
2] Unsecured Loans		62.854	9.000	7.073
TOTAL BORROWING		63.657	9.680	8.235
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		439.906	367.273	58.131
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		222.848	42.977	36.833
Capital work-in-progress		197.607	192.474	44.209
INVESTMENT		0.000	0.000	0.000
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	22.762	17.887	1.360
	Sundry Debtors	29.235	12.917	5.960
	Cash & Bank Balances	4.454	6.026	3.915
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	34.709	175.834	3.435
Total Current Assets		91.160	212.664	14.670
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	60.378	35.130	33.801
	Other Current Liabilities	9.455	45.352	3.723
	Provisions	1.876	0.360	0.170
Total Current Liabilities		71.709	80.842	37.694
Net Current Assets		19.451	131.822	(23.024)
MISCELLANEOUS EXPENSES		0.000	0.000	0.113
TOTAL		439.906	367.273	58.131

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2010	31.03.2009	31.03.2008
	SALES
		Business Income	185.302	30.152	13.563
		Other Income	1.166	0.081	0.279
		TOTAL (A)	186.468	30.233	13.842
Less	EXPENSES
		(Increase)/ Decrease in Stocks	0.619	(10.971)	2.193
		Materials Consumed (Chemicals, Solvents and Glassware)	132.706	25.632	2.282
		Other Expenses	11.071	0.618	1.499
		Salaries, Wages and Benefits to Employees	7.527	6.142	1.601
		Administrative and Selling Expenses	8.519	2.893	2.668
		R and D Expenditure	9.737	0.000	0.000
		Miscellaneous Expenditure Written off	0.000	0.113	0.393
		TOTAL (B)	170.179	24.427	10.636
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		16.289	5.806	3.206
Less	FINANCIAL EXPENSES (D)		0.402	0.007	0.108
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		15.887	5.799	3.098
Less/ Add	DEPRECIATION/ AMORTISATION (F)		2.051	0.235	1.229
	PROFIT BEFORE TAX (E-F) (G)		13.836	5.564	1.869
Less	TAX (H)		1.927	0.360	(0.006)
	PROFIT AFTER TAX (G-H) (I)		11.909	5.204	1.875
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		(2.598)	(7.802)	(9.677)
	BALANCE CARRIED TO THE B/S		9.311	(2.598)	(7.802)
	Earnings Per Share (Rs.)		1.19	2.00	0.72

KEY RATIOS

PARTICULARS		31.03.2010	31.03.2009	31.03.2008
PAT / Total Income	(%)	6.39	17.21	13.55
Net Profit Margin (PBT/Sales)	(%)	7.47	18.45	13.78
Return on Total Assets (PBT/Total Assets}	(%)	4.41	2.18	3.63
Return on Investment (ROI) (PBT/Networth)		0.04	0.02	0.04
Debt Equity Ratio (Total Liability/Networth)		0.36	0.25	0.92
Current Ratio (Current Asset/Current Liability)		1.27	2.63	0.39

LOCAL AGENCY FURTHER INFORMATION

REVIEW OF OPERATIONS

Revenues were higher by six times at Rs.186.467 millions over the previous year, while the net earnings were Rs.11.909 millions as compared to Rs.5.203 millions in the previous year.

The financial results, however, do not reflect all the strides the business has made by way of R and D efforts, implementing the project and acquisition of the manufacturing facilities of Indian ChemPhar Limited (ICPL) to augment production capacity.

PROJECT IMPLEMENTATION STATUS

The implementation of the Phase 1 of the project at Parshamylram is progressing as per schedule and they expect to commission the facilities during the second quarter of this financial year. The facilities are being constructed to meet GMP and USFDA standards. They have spent Rs.382.425 millions as of 31^st March, 2010 on the facilities.

The Company is also in the process of obtaining IS0 certificates during the third quarter of this financial year.

Accreditations from WHO, EU and USFDA are also being planned and the process has been kick started.

ACQUISITIONS

The Company had acquired the manufacturing facilities of Indian ChemPhar Limited (ICPL) at a cost of Rs.110.100 millions under a ‘slump sale’ arrangement. The slump sale agreement with ICPL was executed on February, 2010 and immovable properties included in the slump sale were transferred to the Company on 28^th March, 2010 by a duly registered sale deed with the Sub registrar, Sangareddy, Medak District.

RESEARCH AND DEVELOPMENT AND PROCESS DEVELOPMENT EXPENSES

The Company has been leveraging its strength in research and developments by coming out with improved process for various intermediates and which processes are also being patented.

OUTLOOK

With the expected commissioning of the Phase 1 facilities in the secondquarter of this financial year and the availability of a multi product Drug Licence the Company's offering of products to all potential customers is expected to grow manifold resulting in exponential growth in turnover and profit. With the accreditations of WHO, EU and USFDA being expected to be available in next 18 to 24 months the growth prospects seem only brighter.

FIXED ASSETS:

v Land

v Buildings

v Air Conditioners

v Computers

v Furniture and Fixtures

v Leasehold Developments

v Plant and Machinery

v Telephones and Mobiles

v Office Equipment

v Vehicles

WEBSITE DETAILS:

PROFILE:

Subject is an independent Contract Research Organization for Nano, Pharma and Biotechnology companies around the world. Initiated by vibrant corporate managers and world class R and D scientists with proven track record, Ogene has committed to exceeding the needs and expectations of its clients by providing an innovative, professional and superior quality service with high integrity and reliability.

As a responsible corporate (citizen) entity, Ogene follows sound economic and ecological principles, complies with all relevant statutory and international regulations, and thereby keeping its commitment to all its customers, employees, vendors and stakeholders.

Driven by the mission to become a world class CRO Ogene has built, for itself, an expertise in pharmaceutical industry, with the emphasis on the thrust areas of new drug discovery, globally competitive process development, novel drug delivery Systems Research.

BOARD OF DIRECTORS

Dr. B M Choudary, FNA

(Managing Director)

A highly experienced and eminent scientist with over 30 years in IICT and over a decade of experience in Nano Sciences, Dr. Choudary has commercialized several concepts to industrial processes. His vast experience and expertise has helped Ogene to grow rapidly and his eminent leadership ensure a sustained growth path. He has more than 100 granted patents of which 40 are from USA. Dr. Choudary has written more than 140 research papers that were published in various international journals and magazines. He is the Editorial Board Member, Journal of Molecular Catalysis (Elsevier) and Board Member of International symposia on Homogeneous Catalysis.

P.N. Devarajan

(Director)

Mr. Devarajan is a Chemical Engineer with B.ScTech (University of Madras) and M.Tech (IIT Kharagpur). He has over 50 years of rich and invaluable experience in Technology Transfer and General Management gained during his long and eventful association with Chemical and allied Industries, as Chairman and Managing Director of Hindustan Organic Chemicals and Indian Drugs and Pharmaceuticals, Group President of Reliance Industries, Group President of Essar Oil, Director for Dr. Reddy's Laboratories etc.

He also held coveted positions such as Chairman/Member of Research Council of several CSIR laboratories and served as a Director on RBI Board and BOB Bank.

Dr. J.S. Yadav

(Director)

Dr. Yadav obtained his Masters in 1972 and Doctorate in 1976 from India. He has an illustrious Research career of 34 years in Basic and Applied Organic Chemistry that include cost effective technologies for various drugs and eco-friendly pesticides.

As Director, Indian Institute of Chemical Technology, a premier National Laboratory under CSIR, Dr. Yadav was instrumental in building potential Research Groups and developing various Centers of Excellence with International participation, while being equally adept in guiding more than 130 research scholars for their doctoral degrees, coveting 132 patents, more than 900 scientific publications and 13500 citations to his credit.

Dr. Yadav is a fellow of all Indian Academies and also Third World Academy of Sciences (TWAS), and has received various prestigious awards including S.S. Bhatnagar and Ranbaxy.

Kamlesh Gandhi

(Director)

Mr. Gandhi is acknowledged as a Financial Wizard with a vast experience of over 37 years in the Capital and Financial markets in India. During his long career, he was associated with over 320 capital issues and was involved in placement of equity of several companies with retail, High Networth Individuals (HNIs) and Institutional investors, both domestic and overseas.

Mr. Gandhi is well known in the financial circles being a Member of BSE for over 14 years, as Director, AMBI for over 6 years, as a Founding Director of Stock Brokers Underwriters Association, etc. Currently he is a Director in several companies like Kirloskar Electric Company Limited, Bhoruka Power Corporation Limited,, Bhagyanagar Industries, NCL Industries Limited, Best and Crompton Engineering Projects Limited.etc. His Past directorships include Dr. Reddy’s Laboratories Limited, Raasi Group, Religare Capital Markets Limited,

M. Balarama Krishnaiah

(Director)

Sri M. Balarama Krishnaiah, Nominee Director of Technology Development Board, New Delhi, is a qualified Chartered Accountant. He has vast experience of over three decades in Project Appraisal, Monitoring, Finance, Accounts, Secretarial and Internal Audit departments.

Presently, is working as Director (Finance) with EBC Bearings (India) Limited.

His Past Directorship includes many listed companies like AP Heavy Machinery and Engineering Limited, Alufloride Limited, Lanco Industries Limited, Vibra Automet Limited, M,s Kakatiya Cements Limited, Tyche Peripheral Systems Limited, and unlisted companies like Annapurna Cements Limited, Viswam Cements Limited, India Granite Limited, Supriya Granites Limited, Roshni Powertech Limited, Unique Biotech Limited, etc.,

At present he is a Director on the Board of Venture East Trustee Company Private Limited, and on the Board of Phytochem (India) Limited, and Whole time Director in EBC Bearings (India) Limited

SENIOR MANAGEMENT:

Chief Financial Officer

Arunkumar S

Mr. Arunkumar is a CA with over 20 Years of rich experience in handling Commercial, Finance and Accounting and Regulatory functions, in "Projects" and "Multi Business Entities" and is currently the CFO of the company.

Before joining Ogene, Mr.Arun Kumar served with Reliance Industries Group for well over a decade in various capacities in businesses like Retail- Lifestyle, Infocomm and the Petroleum Refinery.

Vice President -Product Development

M. Venkateswara Rao

Mr. Roa has 22years of experience in R and D, process development and scale-up for API's and Intermediates. His core competence is on cost reduction of the process substantially. He also takes care of plant and production.

Vice President – R and D

Dr. Sarma, Ph.D has experience of over 25years in the field of production and R and D. He has passion for the development of innovative and non-infringing processes.

CMT REPORT (Corruption, Money Laundering & Terrorism]

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

1] INFORMATION ON DESIGNATED PARTY

No records exist designating subject or any of its beneficial owners, controlling shareholders or senior officers as terrorist or terrorist organization or whom notice had been received that all financial transactions involving their assets have been blocked or convicted, found guilty or against whom a judgement or order had been entered in a proceedings for violating money-laundering, anti-corruption or bribery or international economic or anti-terrorism sanction laws or whose assets were seized, blocked, frozen or ordered forfeited for violation of money laundering or international anti-terrorism laws.

2] Court Declaration :

No records exist to suggest that subject is or was the subject of any formal or informal allegations, prosecutions or other official proceeding for making any prohibited payments or other improper payments to government officials for engaging in prohibited transactions or with designated parties.

3] Asset Declaration :

No records exist to suggest that the property or assets of the subject are derived from criminal conduct or a prohibited transaction.

4] Record on Financial Crime :

Charges or conviction registered against subject: None

5] Records on Violation of Anti-Corruption Laws :

Charges or investigation registered against subject: None

6] Records on Int’l Anti-Money Laundering Laws/Standards :

Charges or investigation registered against subject: None

7] Criminal Records

No available information exist that suggest that subject or any of its principals have been formally charged or convicted by a competent governmental authority for any financial crime or under any formal investigation by a competent government authority for any violation of anti-corruption laws or international anti-money laundering laws or standard.

8] Affiliation with Government :

No record exists to suggest that any director or indirect owners, controlling shareholders, director, officer or employee of the company is a government official or a family member or close business associate of a Government official.

9] Compensation Package :

Our market survey revealed that the amount of compensation sought by the subject is fair and reasonable and comparable to compensation paid to others for similar services.

10] Press Report :

No press reports / filings exists on the subject.

CORPORATE GOVERNANCE

MIRA INFORM as part of its Due Diligence do provide comments on Corporate Governance to identify management and governance. These factors often have been predictive and in some cases have created vulnerabilities to credit deterioration.

Our Governance Assessment focuses principally on the interactions between a company’s management, its Board of Directors, Shareholders and other financial stakeholders.

CONTRAVENTION

Subject is not known to have contravened any existing local laws, regulations or policies that prohibit, restrict or otherwise affect the terms and conditions that could be included in the agreement with the subject.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.47.79
UK Pound	1	Rs.75.05
Euro	1	Rs.65.35

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
PAID-UP CAPITAL	1~10	4
OPERATING SCALE	1~10	4
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	4
--PROFITABILIRY	1~10	3
--LIQUIDITY	1~10	4
--LEVERAGE	1~10	3
--RESERVES	1~10	3
--CREDIT LINES	1~10	3
--MARGINS	-5~5	-
DEMERIT POINTS
--BANK CHARGES	YES/NO	YES
--LITIGATION	YES/NO	NO
--OTHER ADVERSE INFORMATION	YES/NO	NO
MERIT POINTS
--SOLE DISTRIBUTORSHIP	YES/NO	NO
--EXPORT ACTIVITIES	YES/NO	NO
--AFFILIATION	YES/NO	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		32

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors and their relative weights (as indicated through %) are as follows:

Financial condition (40%) Ownership background (20%) Payment record (10%)

Credit history (10%) Market trend (10%) Operational size (10%)

RATING EXPLANATIONS

RATING		STATUS	PROPOSED CREDIT LINE
>86	Aaa	Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums	Unlimited
71-85	Aa	Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums	Large
56-70	A	Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums	Fairly Large
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small
11-25	Ca	Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity	Limited with full security
<10	C	Absolute credit risk exists. Caution needed to be exercised	Credit not recommended
-	NB	New Business	-

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.